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Statement regarding alleged fraud on NAB

Statement in response to reports in Fairfax media today regarding an alleged fraud on NAB by a former employee and former supplier:

“The alleged fraud was reported by a whistleblower.  NAB responded and acted immediately on Andrew Thorburn’s direction, investigated matters and reported them to police.

“If the alleged fraud is proven, it represents a most serious breach of trust by a former employee.

“NAB’s annual remuneration report, to be released today (Friday 16/11), states: “Certain matters emerged in the course of an investigation into an alleged fraud on NAB by a former employee and supplier to NAB.  These included certain control failings and breaches of policy in the Office of the CEO, and a small number of unintended breaches of policy by the Group CEO.  These matters have been resolved and closed to the Board’s satisfaction.

“We continue to cooperate fully with police, who have asked us to provide no further comment on the alleged fraud and the investigation.”

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